US Housing Bubble - The Leak is Growing Bigger

Author Richard Russell quoting Robert Campbell in the Campbell Real Estate Timing Letter in an article posted to Rense.com Here

"I believe the California housing market is a bubble that is nearing its final hours," writes Robert in a report that I received yesterday. His Real Estate Crash Index has finally given a bear signal.


Robert computes that California home prices could drop as much as 42%. He comes to this analysis in a very logical and scientific way based on current and past statistics, which I won't go into here. But I will include the following paragraph from Robert's current report.


"The median price CA (California) house, for example, now sells for $533,000. If a buyer puts 20% down, the carrying cost for principle, interest, property taxes, and hazard insurance with a 30-year fixed-rate mortgage of 6.5% is $3,400 per month. If the buyer only spends 35% of the family income on housing payments -- which has been an historical norm -- this family must be earning $116,000 per year. Earning only the average of $60,300 per year, buyers are purchasing twice as much home as the can really afford. Given these statistics, is it any wonder that interest only and negative amortizing loans now account for 70% of all CA home purchase financing?


"As the CA housing mania ends and the concept of risk returns to its rightful place, there is going to be a rush for the exit doors. Speculators are going to find out -- and many for the first time ever -- that as demand continues to soften, liquidity in real estate investments is far lower than they envisioned when they went in."

From another Article in the same Post:

New Home Sales Fall 40% In N California

News Ten in Sacramento has some breaking news. "The latest figures on home sales in Sacramento give further evidence that the Northern California real estate market is slowing down. A report from the California Building Industry Association shows new home sales in Northern California fell 40 percent during the past three months, compared to the same period last year. It's the sharpest such drop in the last 15 years."


"Pam Deangelis sees the slowdown as a correction in a market that's been overheated for several years. Deangelis said a year ago people would come in panic buying mode. 'They would come in and be anxious to buy anything we had available,' she said. '"Now they're in panic selling mode because it's taking them longer to sell their existing house.'"


"Deangelis added Cresleigh Homes is no longer taking contingency offers, because some would-be buyers have been unable to sell their current homes."

Another Excellent Analysis of the California Real Estate Bubble Can Be Found Here:

http://patrick.net/housing/crash.html

The 911 Hijackers - What are they up to now?

A man named by the US Department of Justice as a suicide hijacker of American Airlines flight 11 ­ the first airliner to smash into the World Trade Centre ­ is very much alive and living in Jeddah. Abdulrahman al-Omari, a pilot with Saudi Airlines, was astonished to find himself accused of hijacking ­ as well as being dead ­ and has visited the US consulate in Jeddah to demand an explanation.

Another of the men named by the FBI as a hijacker in the suicide attacks on Washington and New York has turned up alive and well. Saudi Arabian pilot Waleed Al Shehri was one of five men that the FBI said had deliberately crashed American Airlines flight 11 into the World Trade Centre on 11 September. Now he is protesting his innocence from Casablanca, Morocco.

Abdulaziz Al Omari, another of the Flight 11 hijack suspects, has also been quoted in Arab news reports. He says he is an engineer with Saudi Telecoms, and that he lost his passport while studying in Denver.

The Saudi Airlines pilot, Saeed Al-Ghamdi, 25, and Abdulaziz Al-Omari, an engineer from Riyadh, are furious that the hijackers' "personal details" - including name, place, date of birth and occupation - matched their own.

Etc. Etc. Etc.

Click Here for the Website
Click the Photos Above or Here for References

So... If the hijackers were using stolen identities then how did the FBI come up with those photos so quickly two days later?

Federal Reserve Discontinues Publication of M3

Why in the world would the Federal Reserve be interested in hiding its growing M3??

http://www.federalreserve.gov/releases/h6/discm3.htm

From the Federal Reserve Press Release:

On March 23, 2006, the Board of Governors of the Federal Reserve System will cease publication of the M3 monetary aggregate. The Board will also cease publishing the following components: large-denomination time deposits, repurchase agreements (RPs), and Eurodollars. The Board will continue to publish institutional money market mutual funds as a memorandum item in this release.

From Wikipedia:
Because (in principle) money is anything that can be used in settlement of a debt, there are varying measures of money supply. The narrowest (ie. more restrictive) measures count only those forms of money held for immediate transactions.

Broader measures include money held as a store of value. Different measures of money have different technical definitions. The most common measures are named M0, M1, M2, and M3 (from narrow to broadly defined). In the United States they are as follows, as defined by the Federal Reserve:

M0: The total of all coins 'minted' and paper 'printed' cash in circulation. (i.e. currency)
M1: M0 + the amount in demand accounts (also called "checking account" or "current account")
M2: M1 + other various savings account types, money market accounts, and certificate of deposit accounts (CDs) of under $100,000.
M3: M2 + all other CDs, deposits of eurodollars and repurchase agreements.

WHY SHOULD ANYONE CARE?
Each and every dollar has value because dollars are in limited supply... Print up a Bazillion dollars (a job that has been given to Ben Bernanke) and scatter them around the world and the value of each dollar already in circulation drops dramatically.

WHY WOULD THE FEDERAL RESERVE DROP THE VALUE OF THE CURRENCY IN CIRCULATION?
The Crew From Enron that has been running the government for decades has not only completely bankrupted the US but has now reached a point where foreigners are reluctant to loan the US money. To keep up the incredible transfer of wealth from the American taxpayer to HalliburtonLockheedMartinCarlyleGroupetc.etc. the "government" (think: Crew From Enron) and the Federal Reserve are now just creating the money out of thin air using an advanced technology called a "printing press" and loaning it to the government so you and your children can pay interest on it to the private for-profit banks that control the whole system. By creating this massive amount of money out of thin air the Federal Reserve is reducing the purchasing power of every dollar already in circulation. This is why prices are going up dramatically.

I AM HAVING A HARD TIME PAYING ATTENTION BECAUSE I AM HYPNOTIZED BY THE TV...WHY AGAIN SHOULD I CARE?
They are stealing money from you... It is the exact same as if they had come and stolen out of your pocket... If they print too much then investors and dollar holders could abandon the dollar because they believe that the Fed will eventually inflate its value to zero. The Central Banksters that run the whole con game will have already sold their dollars for gold & silver and will be sitting pretty while average Americans are stuck with worthless pieces of paper called "dollars".


The Federal Reserve has evidently sunken so low as to attempt to hide their complete debasement of the Dollar by simply not reporting the amount of the unchecked growth of the monetary base. What an excellent way to inspire investor confidence both domestically and abroad. Get ready for a dollar in free fall.. - Etienne


Got Gold?

Iraq War Vets Detail Calamitous Torture Blowback

http://www.waynemadsenreport.com/

November 11, 2005 -- A group of veterans of Operations Iraqi Freedom and Desert Storm sharply criticized the Bush administration today at an event sponsored by Veterans for Common Sense in Washington, DC. Dave Debatto. a former US Army Counterintelligence Special Agent who was assigned in 2003 to Iraq, said he took part in thousands of interrogations in Iraq. He said his orders and those for his colleagues were never to lay hands on anyone, let alone torture anyone. Consequently, Debatto and other interrogators received a lot of intelligence through their cooperation with Iraqis at the outset of the U.S. occupation. However, he said when new tactics were employed in June 2003, things "went south" quickly. Intelligence dried up and Camp Anaconda, his base of operations, became "Mortarville" as it was mortar-shelled day and night.


Frank Ford, a 32-year veteran of military and counter-intelligence assignments, served in Samara, the ancient capital of Mesopotamia, during Operation Iraqi Freedom. His military service began when he served with President Richard Nixon's Presidential security detail at the Western White House in San Clemente, California.

Intelligence reports on U.S. torture were sent up the military chain to Washington. The reports were ignored. Ford said, soon, interrogation became extermination. Ford requested a formal investigation of the torture. The response of the U.S. military command in Iraq was to physically assault Ford and take him to a psychiatrist. Ford was told he was imagining torture. Ford said things got uglier when he was ordered out of Iraq to Germany strapped to a stretcher. Soon after, Ford retired from government service.

Ford said soon the U.S. position in Samara first began to disintegrate n June 15, 2003 after former members of the Iraqi Mukhabarat intelligence service, along with "Saddam Fedayeen" former special forces, launched "Operation Viper," a Tet-style offensive against the U.S. The Mukhabarat warned that five U.S. soldiers would be killed per week. Ford said the insurgency has drastically increased that target number today.

BYU Physics Professor Thinks Bombs Not Planes Toppled WTC on 911

BYU Physics Professor Thinks Bombs Not Planes Toppled WTC on 911



From the Article:

The physics of 9/11 — including how fast and symmetrically one of the World Trade Center buildings fell — prove that official explanations of the collapses are wrong, says a Brigham Young University physics professor.
In fact, it's likely that there were "pre-positioned explosives" in all three buildings at ground zero, says Steven E. Jones.
In a paper posted online Tuesday and accepted for peer-reviewed publication next year, Jones adds his voice to those of previous skeptics, including the authors of the Web site www.wtc7.net, whose research Jones quotes. Jones' article can be found at www.physics.byu.edu/research/energy/htm7.html.
Stuart Johnson, Deseret Morning News"It is quite plausible that explosives were pre-planted in all three (WTC) buildings," BYU physics professor Steven E. Jones says. Jones, who conducts research in fusion and solar energy at BYU, is calling for an independent, international scientific investigation "guided not by politicized notions and constraints but rather by observations and calculations.
"It is quite plausible that explosives were pre-planted in all three buildings and set off after the two plane crashes — which were actually a diversion tactic," he writes. "Muslims are (probably) not to blame for bringing down the WTC buildings after all," Jones writes.

Jones Offers the Following Evidence in His Report:

• The three buildings collapsed nearly symmetrically, falling down into their footprints, a phenomenon associated with "controlled demolition" — and even then it's very difficult, he says. "Why would terrorists undertake straight-down collapses of WTC-7 and the Towers when 'toppling over' falls would require much less work and would do much more damage in downtown Manhattan?" Jones asks. "And where would they obtain the necessary skills and access to the buildings for a symmetrical implosion anyway? The 'symmetry data' emphasized here, along with other data, provide strong evidence for an 'inside' job."

• No steel-frame building, before or after the WTC buildings, has ever collapsed due to fire. But explosives can effectively sever steel columns, he says.

• WTC 7, which was not hit by hijacked planes, collapsed in 6.6 seconds, just .6 of a second longer than it would take an object dropped from the roof to hit the ground. "Where is the delay that must be expected due to conservation of momentum, one of the foundational laws of physics?" he asks. "That is, as upper-falling floors strike lower floors — and intact steel support columns — the fall must be significantly impeded by the impacted mass. . . . How do the upper floors fall so quickly, then, and still conserve momentum in the collapsing buildings?" The paradox, he says, "is easily resolved by the explosive demolition hypothesis, whereby explosives quickly removed lower-floor material, including steel support columns, and allow near free-fall-speed collapses." These observations were not analyzed by FEMA, NIST nor the 9/11 Commission, he says.
• With non-explosive-caused collapse there would typically be a piling up of shattering concrete. But most of the material in the towers was converted to flour-like powder while the buildings were falling, he says. "How can we understand this strange behavior, without explosives? Remarkable, amazing — and demanding scrutiny since the U.S. government-funded reports failed to analyze this phenomenon."

• Horizontal puffs of smoke, known as squibs, were observed proceeding up the side the building, a phenomenon common when pre-positioned explosives are used to demolish buildings, he says.

• Steel supports were "partly evaporated," but it would require temperatures near 5,000 degrees Fahrenheit to evaporate steel — and neither office materials nor diesel fuel can generate temperatures that hot. Fires caused by jet fuel from the hijacked planes lasted at most a few minutes, and office material fires would burn out within about 20 minutes in any given location, he says.

• Molten metal found in the debris of the World Trade Center may have been the result of a high-temperature reaction of a commonly used explosive such as thermite, he says. Buildings not felled by explosives "have insufficient directed energy to result in melting of large quantities of metal," Jones says.

• Multiple loud explosions in rapid sequence were reported by numerous observers in and near the towers, and these explosions occurred far below the region where the planes struck, he says.

Professor Steven Jones joins other notable critics of the absurdity of the official 19-highjackers-operating-from-a-cave-in Afganistan fable including: Morgan Reynolds, Ed Asner, Paul Craig Roberts, Michael Ruppert, Ed Begley, Karl Schwartz, Michael Rivero, and Etienne De La Boetie to name but a few...

Bush Has Borrowed More Than ALL US Presidents COMBINED!!

Bush Has Borrowed More Than ALL US Presidents COMBINED!!

From the Article:

"According to the Treasury Department, from 1776-2000, the first 224 years of U.S. history, 42 U.S. presidents borrowed a combined $1.01 trillion from foreign governments and financial institutions, but in the past four years alone, the Bush administration borrowed $1.05 trillion."

"No American political leadership has ever willfully and deliberately mortgaged our country to foreign interests in the manner we have witnessed over the past four years," said Tanner. "If this recklessness is not stopped, I truly believe our economic freedom as American citizens is in great jeopardy."

It is EXTREMELY important to note that while the public debt has climbed another One (1) Trillion Dollars in just 4 years the unfunded liabilities for social security, welfare, Medicare, Medicade, etc. incresed over 11 TRILLION in JUST ONE SINGLE FUCKING YEAR!!!

This is total reckless fiscal INSANITY!! And if it doesn't scare the shit out of you then you are living in fantasy land or are really, really bad at math!! - Etienne